The current market mood was caused by negative Government intervention to suppress buyer demand and also the election itself.
Sentiment has changed post-election and now positive Government intervention brings good news again for buyers.
There are 4 key areas that signal this.
- APRA has relaxed its tightening bias, now “encouraging” banks to lower their “assessment rate” (Banks currently assess your loan as if the rate is 7.5%, they will now be able to assess as if the rate is 6.5%) Your borrowing power will now be higher. (APRA answers to the Treasurer. This is clearly a government relaxation). https://www.abc.net.au/news/2019-05-21/australians-could-borrow-more-under-apra-proposal-on-mortgage-l/11133686
